Just got back from Panama, headed by road down to Santa Catalina and stayed at La Buena Vida, nice, spacious, clean $40 per night. This is a surfers town with a famous break, October was not the time to visit for surfing or diving but we did anyway. Dove with Herbie's operation, ScubaCoiba, they have a decent set up, gear, new boat coming soon and a compreessor on Coiba which was a miseable 2 hr journey for us but on a calmer, clearer day would have been fine. If you don't fancy the trip 2 or 3 times then you and the divemaster can stay on the island overnight and get away from it all, would do that next time.
We'd heard good reports from a friend but conditions we'ren't so great however we did see a couple of frogfish, numerous eels, octopus, moorish idols, huge jacks, 5 or 6 white tips on each of our 3 dives. Fish life is abuntant, water around 73 degrees, current was extreme on one dive, steady on the others.
Worth the effort, probably excellent at different time of the year